A purchasing guide for Petroleum Products – rich advisory on spend outlook in Petroleum Products, pricing analysis for Petroleum Products procurement cost benchmarking, negotiation strategies and key vendors of Petroleum Products.
GET FREE SAMPLEThis report on global Petroleum Products category is part of a larger series of reports on global Fuel market. The scope of Fuel spans multiple categories and is typically identified as a procurement category that includes all spend related to the provision of fuels including solid and liquid fuels. It may also include spend related to transporation and storage of fuel across different geographic locations across the globe as well as any spend on additives to enhance performance of the fuel.
Several macro changes in the dynamics of overall Fuel as well as Petroleum Products procurement trends are poised to change the business practices and procurement thumb rules. Suppliers have put greater emphasis on evaluation of their traditional business models and find opportunities that can create value for themselves as well as their clients. Price volatility is creating multiple challenges that impact the Petroleum Products category such as benchmarking and budgeting the procurement costs. Digitization of assets, processes and systems has enabled new value propositions and cost saving opportunities within the Petroleum Products category. Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.
As market conditions become more dynamic and procurement practices get more sophisticated, category managers need to be cognizant of the best practices that work for their Petroleum Products category procurement. The report offers a succinct analysis of Petroleum Products procurement best practices. For example, Buyers need to conduct periodic quality audits at the suppliers' facilities to assure adherence to the contract terms and compliance with regulations. Buyers should engage with suppliers that have made high R&D investments in terms of product innovations and incorporation of technologies that results in better quality and/or lower costs. Buyers should proactively manage relations with Petroleum Products suppliers and have pre-determined intervention criteria for onboarding or replacing a supplier, changing specifications or terms and conditions.
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Petroleum Products procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Petroleum Products procurement. Some examples include:
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The report is intended to serve as a one-stop reference guide for Petroleum Products procurement strategy and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Petroleum Products: Procurement Report 101” as well as for category experts actively tracking the global Petroleum Products procurement market.
You may have just initiated your research to design a winning Petroleum Products procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.
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Procurement decisions can prove to be costly in the absence of careful deliberation and evaluation of every available option. In fact, more than 90% of the decision makers we work with acknowledge that timely availability of up-to-date category intelligence can help them make better purchasing decisions. More than 80% of them believe that in-house category intelligence needs to be updated periodically to achieve full benefits. If you have read so far, we are quite sure you agree!!
The Petroleum Products procurement report helps take more informed decisions by placing all the critical information and advice at the fingertips of a decision maker. It also specifically answers some of the key questions that we have been routinely asked during our industry outreach initiatives:
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The Petroleum Products market report offers a complete picture of the supply market and analyzes the category from the perspective of both buyers and suppliers. Analysis of the category trends, procurement best practices, negotiation levers and overall category management strategy advisory are interspersed with in-depth data and commentary on spend outlook, pricing ecosystem and supplier landscape drilled down to a region-level coverage.
A key highlight of this report is the in-depth outlook created on Petroleum Products procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Petroleum Products. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.
Along with specific category and supplier intelligence, the publication also includes curated insights on Petroleum Products market trends, price influencers and inherent risks. These insights help the decision makers prepare for market shaping trends in advance and create alternative strategies for changes in the market conditions.
Additionally, the report also advises on the best practices and strategies to manage the Petroleum Products category efficiently. Negotiation levers and opportunities are explained in detail along with quantification of their potential. Benchmark KPIs for supplier and buyer performance management are also aggregated to better organize the category objectives. Other themes of advisory include ideal procurement organization structure, enablers to achieve KPIs or category objectives and ideal SLAs to have with suppliers.
Our research is complex, but our reports are easy to digest. Quantitative analysis and exhaustive commentary is placed in an easy to read format that gives you an in-depth knowledge on the category without spending hours to figure out “what does it mean for my company?”
SpendEdge presents a detailed picture of Petroleum Products procurement solutions by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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